RDNT - RadNet to Enter the Houston Texas Market through Platform Acquisition of Houston Medical Imaging | Benzinga
LOS ANGELES, Feb. 27, 2024 (GLOBE NEWSWIRE) -- RadNet, Inc. (NASDAQ:RDNT), a national leader in providing high-quality, cost-effective outpatient diagnostic imaging services, today announces that it has signed a definitive agreement to purchase the assets of seven imaging centers in the greater Houston, Texas metropolitan area from Houston Medical Imaging, LLC. Upon closing the acquisition, which is anticipated to occur during the second quarter, 2024, RadNet will be entering its first new market since 2020. The acquisition is subject to customary closing conditions.
The seven centers, once acquired, will continue to operate under the Houston Medical Imaging brand, and will offer multi-modality services, including MRI, CT, PET/CT, X-ray, ultrasound, mammography and other procedures. During 2023, these seven centers collectively performed over 135,000 procedures and produced over $28 million of Revenue.
RadNet's President and Chief Executive Officer, Howard Berger, MD, explained, "The Houston metropolitan marketplace, encompassing about 7.3 million people, is the fourth most populous city and the second fastest growing metropolitan area in the United States. We believe this initial acquisition forms a strong platform from which to grow a new core network for RadNet. We are confident of the opportunity for further acquisitions, de novo build-outs, health system partnerships and other means of expansion, which include bringing our AI and leading edge clinical and operating digital health solutions to the patient and referring communities of ...